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Bloomin' Brands, Inc. (BLMN) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 25, 2017

Bloomin' Brands, Inc.

CIK: 1546417 Ticker: BLMN



blmnlogov3.jpg
 
NEWS
 
Exhibit 99.1
 
 
 
 
 
Mark Graff
 
 
 
Vice President, IR & Finance
 
 
 
(813) 830-5311
 
 

Bloomin’ Brands Announces 2017 Q2 Diluted EPS of $0.35 and Adjusted Diluted EPS of $0.28;
Reaffirms Full Year 2017 Adjusted Diluted EPS and U.S. Comparable Sales; and
Repurchases $233 Million of Common Stock Year-to-Date


TAMPA, Fla., July 26, 2017 - Bloomin’ Brands, Inc. (Nasdaq: BLMN) today reported results for the second quarter 2017 (“Q2 2017”) compared to the second quarter 2016 (“Q2 2016”).

Highlights for Q2 2017 include the following:

Comparable restaurant sales were up 0.3% at Outback Steakhouse;
Combined U.S. comparable restaurant sales were down 0.3%;
Comparable restaurant sales were up 13% for Outback Steakhouse in Brazil; and
Opened five new restaurants all of which were in international markets.

Subsequent to the fiscal first quarter earnings call, we repurchased $155 million of common stock, bringing the total year-to-date share repurchases to $233 million through July 25, 2017.

Diluted EPS and Adjusted Diluted EPS

The following table reconciles Diluted earnings (loss) per share to Adjusted diluted earnings per share for the periods as indicated below.
 
Q2
 
 
 
2017
 
2016
 
CHANGE
Diluted earnings (loss) per share
$
0.35

 
$
(0.08
)
 
$
0.43

Adjustments
(0.07
)
 
0.37

 
(0.44
)
Adjusted diluted earnings per share
$
0.28

 
$
0.29

 
$
(0.01
)
 
 
 
 
 
 
___________________
See Non-GAAP Measures later in this release.

CEO Comments

“We were pleased with our second quarter performance, and remain on track to achieve our sales and EPS goals for the year,” said Liz Smith, CEO. “We maintained positive comp sales at Outback with strengthening traffic trends as our investments are gaining traction. In addition, comp sales were up 13% at Outback Brazil as this business continues to perform at a very high level.”



1

The following information was filed by Bloomin' Brands, Inc. (BLMN) on Wednesday, July 26, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Bloomin' Brands, Inc.'s financial trajectory

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Bloomin' Brands, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

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Inside Bloomin' Brands, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Statements Of Cash Flows
Consolidated Balance Sheets
Consolidated Balance Sheets Parenthetical
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity Parenthetical
Consolidated Statements Of Operations And Comprehensive Income
Commitments And Contingencies
Commitments And Contingencies - Litigation And Other Matters (details)
Commitments And Contingencies ??? Lease Guarantees (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (cash Flow Hedges Of Interest Rate Risk) (details)
Derivative Instruments And Hedging Activities (effects Of The Interest Rate Swap On The Consolidated Statement Of Operations And Comprehensive Income (loss)) (details)
Derivative Instruments And Hedging Activities (fair Value And Classification Of Interest Rate Swaps) (details)
Derivative Instruments And Hedging Activities (tables)
Description Of The Business And Basis Of Presentation
Description Of The Business And Basis Of Presentation (policies)
Description Of The Business And Basis Of Presentation Adoption Of New Accounting Procurements (details)
Description Of The Business And Basis Of Presentation Description Of Business (details)
Disposals
Disposals (tables)
Disposals Domestic Disposal (details)
Disposals Outback South Korea (details)
Earnings (loss) Per Share
Earnings (loss) Per Share (tables)
Earnings Per Share (antidilutive Securities) (details)
Earnings Per Share (basic And Diluted Eps) (details)
Fair Value Measurements
Fair Value Measurements (carrying Value And Fair Value Of Debt By Hierarchy Level) (details)
Fair Value Measurements (fair Value Measurements On A Nonrecurring Basis) (details)
Fair Value Measurements (fair Value Measurements On A Recurring Basis) (details)
Fair Value Measurements (tables)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (details)
Goodwill And Intangible Assets, Net (tables)
Impairment And Exit Costs
Impairments And Exit Costs (lease Liability Rollforward) (details)
Impairments And Exit Costs (projected Future Expenses & Cash Expenditures) (details)
Impairments And Exit Costs (provision For Impaired Assets And Restaurant Closings) (details)
Impairments And Exit Costs (restaurant Closure Initiatives-summary) (details)
Impairments And Exit Costs (tables)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Long-term Debt, Net
Long-term Debt, Net (schedule Of Long-term Debt, Net) (details)
Long-term Debt, Net (tables)
Long-term Debt, Net Long Term Debt, Net (credit Agreement Amendment) (details)
Other Current Assets, Net
Other Current Assets, Net (details)
Other Current Assets, Net (tables)
Property, Fixtures And Equipment, Net
Property, Fixtures And Equipment, Net (details)
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interests (details)
Redeemable Noncontrolling Interests (tables)
Segment Reporting
Segment Reporting (depreciation And Amortization By Segment) (details)
Segment Reporting (income From Operations Reconciliation) (details)
Segment Reporting (narrative) (details)
Segment Reporting (revenue By Segment) (details)
Segment Reporting (tables)
Stock-based Compensation Plans
Stock-based Compensation Plans (assumptions Used In The Black-scholes Option Pricing Model And The Weighted-average Fair Value Of Option Awards Granted) (details)
Stock-based Compensation Plans (stock-based Compensation Expense) (details)
Stock-based Compensation Plans (tables)
Stock-based Compensation Plans (unrecognized Stock Compensation Expense And The Remaining Weighted-average Vesting Period) (details)
Stockholders' Equity
Stockholders' Equity (accumulated Other Comprehensive Income (loss)) (details)
Stockholders' Equity (dividend) (details)
Stockholders' Equity (other Comprehensive Income (loss)) (details)
Stockholders' Equity (share Repurchase) (details)
Stockholders' Equity (tables)
Ticker: BLMN
CIK: 1546417
Form Type: 10-Q Quarterly Report
Accession Number: 0001546417-17-000069
Submitted to the SEC: Tue Aug 01 2017 4:14:13 PM EST
Accepted by the SEC: Tue Aug 01 2017
Period: Sunday, June 25, 2017
Industry: Retail Eating Places

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